3 ms·
This is a delightful example of the flexibility of the human concept of money. I particularly love the story (which doesn’t seem to be mentioned here) of the s
by mikeash 9y ago
This is a delightful example of the flexibility of the human concept of money.
I particularly love the story (which doesn’t seem to be mentioned here) of the stone that sank on the voyage back from the quarry. The islanders discussed it afterwards and decided that it still counted. Someone owns a giant stone on the ocean floor that they can use to pay others, and as long as everyone else agrees, it works.
- AndrewKemendo 9y agoas long as everyone else agrees, it works You could sum up the history of money with this line.
- deleted 9y ago[deleted]
- geezerjay 9y ago> This is a delightful example of the flexibility of the human concept of money. I don't agree. I see it as an example of a clear misuse of the word money. Just because they have value that doesn't mean they are money. Those stones aren't used as a payment method for goods and services any more than a sack of grain or bestowing an honorary title. Heck, they fail even the most basic characteristics of money: serving as a unit of account (each stone disk is valued differently and arbitrarily) and a store of value (their value varies with how it's used).